Community causes and revenue streams will receive the benefits, while the bite taken by financial systems will be replaced by MUNCH, a digital currency that will be distributed by users. With a purchase fee from Munch sales, we contribute equally to our society and a cause which is determined by the community, everybody gets a share.
It has already raised over $300,000 in donations after 96 hours, which equates to 300 ETH, as of when Bitcoin's price is today.
Instead of charging a processing fee, MUNCH donates all of its income to charities and donates the remaining percentage to other MUNCH shareholders.
It is the community's consensus, then, that establishes the goal. The charity will be voted on by the group annually as part of the contract design. Any MUNCH contributor is empowered to decide what he or she wants to help and directs MUNCH to take.
Creativeovell was given priority because it lets others arrive at more efficient decisions on charities to give to. The level of information that is available to our society will be a high priority when we deliberate on prospective approved charities.
MUNCH is distinct from other ICOs in that all fees are translated to Ethereum tokens at the point of sale. funds are not allowed to be held in a MUNCH wallet and no funds are given to non-profits. The currency has no alternative uses, regardless of who has it and who owns it. This leaves the charity-based paradigm unaffected, as well.
Besides, all donations are made using the trustless model, which makes them less volatile and has a more reliable value than small market cap coins, like MUEH. Converting MUNCH tokens to a fungible currency will lead to immediate deflation, and cause them to lose value for the charity.
This latest financial approach has shown outstanding results in a short time period of time Rodrigo Silva is the CEO of his own technology firm, which means he has very little time to program.
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